Parke Bancorp (NASDAQ:PKBK) Stock Passes Above 200 Day Moving Average – What’s Next?

Parke Bancorp, Inc. (NASDAQ:PKBK)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $29.18 and traded as high as $33.49. Parke Bancorp shares last traded at $33.26, with a volume of 44,427 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Parke Bancorp in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Parke Bancorp presently has a consensus rating of “Buy”.

Parke Bancorp Stock Up 1.7%

The firm has a market cap of $390.17 million, a P/E ratio of 9.50 and a beta of 0.48. The firm’s fifty day moving average is $31.73 and its 200 day moving average is $29.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.25 and a current ratio of 1.25.

Parke Bancorp (NASDAQ:PKBK) last released its quarterly earnings results on Friday, April 17th. The bank reported $0.99 earnings per share for the quarter. The firm had revenue of $22.98 million for the quarter. Parke Bancorp had a net margin of 28.04% and a return on equity of 13.02%.

Parke Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, July 3rd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from Parke Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, July 2nd. Parke Bancorp’s dividend payout ratio is 22.86%.

Insiders Place Their Bets

In other news, CEO Vito S. Pantilione purchased 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was acquired at an average cost of $30.37 per share, with a total value of $39,481.00. Following the acquisition, the chief executive officer owned 237,429 shares in the company, valued at approximately $7,210,718.73. This trade represents a 0.55% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.97% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in shares of Parke Bancorp by 228.3% in the first quarter. Goldman Sachs Group Inc. now owns 105,700 shares of the bank’s stock valued at $1,991,000 after acquiring an additional 73,505 shares during the period. Empowered Funds LLC increased its position in Parke Bancorp by 3.4% during the first quarter. Empowered Funds LLC now owns 49,443 shares of the bank’s stock worth $932,000 after acquiring an additional 1,644 shares during the period. Jane Street Group LLC bought a new position in Parke Bancorp during the first quarter worth about $229,000. Rhumbline Advisers raised its stake in Parke Bancorp by 7.0% in the 2nd quarter. Rhumbline Advisers now owns 15,969 shares of the bank’s stock worth $325,000 after purchasing an additional 1,051 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Parke Bancorp by 46.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 64,420 shares of the bank’s stock valued at $1,312,000 after purchasing an additional 20,347 shares during the period. Institutional investors own 49.69% of the company’s stock.

Parke Bancorp Company Profile

Parke Bancorp, Inc is the bank holding company for Parke Bank, a community-oriented financial institution headquartered in Kittanning, Pennsylvania. The company delivers a full range of retail and commercial banking services to individuals, small businesses and agricultural clients through a network of branches and ATMs, supported by secure online and mobile banking platforms.

Its product lineup includes deposit accounts—such as checking, savings, money market accounts and certificates of deposit—alongside a variety of lending solutions.